CFAH

Preliminary January labor force data counts for San Francisco, Marin and San Mateo counties pegs the unemployment rates at 8.1%, 6.6% and 7.2% respectively, up 0.5 percentage points in San Francisco, up 0.1 points in Marin, and unchanged in San Mateo.
That being said, while the number of unemployed in San Francisco increased by 2,400 in January (from 35,200 to 37,600), the labor force increased by 2,800 (from 463,300 to 466,100) and the number of employed increased by 500 (from 428,000 to 428,500).
Overall unadjusted California unemployment increased to 11.3% as the labor force increased by 193,700 workers and the ranks of the unemployed increased by 95,201.
Monthly Labor Force Data for Counties: January 2012 (Preliminary) [EDD]
San Francisco County Employment Up By 200 In December [SocketSite]

Comments from Plugged-In Readers

  1. Posted by anon

    Geeze, you mean those 8000 new tech jobs aren’t really going to help all that much? SF’s unemployment rate is almost exactly the same as the US as a whole? But I thought SF was “different”?!
    On a related note, gawker got hold of twitter’s financials, and they are UGLY! Losing money hand over fist and revenues are low. So after facebook does nothing to stop the SF real estate slide, we can count on twitter also to do nothing about it!

  2. Posted by R

    Are you knowingly being obtuse or just don’t understand?
    I’m not saying that 8000 number is real (in fact I’m saying it’s made up nonsense), but if it was, yes, it would make a huge difference, seeing as it’s more than 20% of all the unemployed in SF.
    And SF’s unemployment rate is almost 30% lower than California’s. So yes, it is ‘different’.
    And it’s a known fact that Twitter doesn’t make any money, is that news to you? The idea is now they need to start monetizing it, same as FB.

  3. Posted by anon

    R (wait, wait, don’t tell me. You’re a realtor, right?),
    Do you really think those 8000 fantasy tech jobs are going to be filled from the ranks of the current unemployed residents of SF so that there will magically be 20% fewer unemployed people in SF? Yeah, right, I’m the obtuse one! I’m sure those 8000 formerly-unemployed people will then all rush out and buy a house in SF! LOL!
    And I get it now. All the talk about SF being “different” was just that it was “different” from the rest of California while conceding it is no “different” at all from the US as a whole.

  4. Posted by R

    Yes anon, anyone who disagrees with the bears is a realtor.

  5. Posted by wrath

    “while the number of unemployed in San Francisco increased by 2,400 in January (from 35,200 to 37,600), the labor force increased by 2,800 (from 463,300 to 466,100) and the number of employed increased by 500 (from 428,000 to 428,500).”
    If the labor force increases by 2,800 & the total employed increases by 500, shouldn’t the umemployed increase have been 2,300?
    Put differently, the prior unemployed number should have been 35,300? not 35,200?
    what am I missing?

  6. Posted by Rillion

    There is a 100 person discrepancy in the numbers from the prior month.
    December Numbers as listed above
    Unemployed 35,200
    Employed 428,000
    Labor Force 463,300
    Yet if you add December Unemployed with Employed the total is 463,200. So there are a hundred people in the labor force that are not employed or unemployed.
    January Numbers as listed above
    Unemployed 37,600
    Employed 428,500
    Labor Force 466,100
    The January numbers total out correctly as these 100 mystery people disappear.

  7. Posted by wrath

    did they first collect unemployment benefits before disappearing?

  8. Posted by Rillion

    Were they tech workers? So many unanswered questions!

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